The average and standard deviation of the amount of GST paid by all sole trader businesses in Australia in a twelve month period were $5.602thousand and $1.637 thousand respectively. If a sample of 120 sole trader businesses was chosen, find the sample average value above which only15% of sample averages would lie. Give your answer in dollars (to the nearest dollar).

Answered: Image /qna-images/answer/a10a66a0-8140-4e7f-bae5-ba37a26fd83c.jpg

Answered: The average and standard deviation of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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I'm assuming for this problem I need to find the z-score first then find the value on the distribution chart?The mean number of calories consumer per day for females aged 27 is 2725 with a standard deviation of 277. If a simple random sample of 100 females is selected, what is the probability that the mean number of calories ingested is more than 2800?
The wildlife department has been feeding a special food to rainbow trout fingerlings in a pond. Based on a large number of observations, the distribution of trout weights is normally distributed with a mean of402.7grams and a standard deviation of12.8grams. What is the probability that the mean weight for a sample of 42 trout exceeds405.5grams? a.0.4338 b.1.0 c.0.5 d.0.0778
You may need to use the appropriate appendix table or technology to answer this question. Studies show that massage therapy has a variety of health benefits and it is not too expensive. A sample of 14 typical one-hour massage therapy sessions showed an average charge of $58. The population standard deviation for a one-hour session is a - $5.5. (a) What assumptions about the population should we be willing to make if a margin of error is desired? We should be willing to make the assumption that the population is at least approximately uniform. We should be willing to make the assumption that the population is at least approximately normal. We should be willing to make the assumption that the population is at least approximately skewed right. We should be willing to make the assumption that the population is at least approximately bimodal. We should be willing to make the assumption that the population is at least approximately skewed left. (b) Using 95% confidence, what is the margin of…
A film processing service monitors the quality of the developing process with light-sensitive equipment. The accuracy measure is a number with a target value of zero. Suppose that an X- chart with subgroups of size five is used to monitor the process and the control limits are UCL = 1.5 and LCL = -1.5. Assume that the estimate for the process mean is zero and for the process standard deviation is 1.30.a. What is the value of α for this control chart?b. Find the UCL and LCL based on three-sigma limits.c. Suppose that the process mean shifts to 1. What is the probability that the shift is detected on the first subgroup after the shift occurs?
An estimator () is said to be a consistent estimator if the bias of (✔) goes to zero as the sample size gets larger and larger and the variance goes to zero. O True False
Consider the estimated equation from Example 4.3, which can be used to study the effects of skipping class on college GPA: colGPA = 1.39.412 hsGPA+.015 ACT- .083 skipped (.33) (.094) (.011) (.026) n = 141, R² = .234. (ii) (i) Using the standard normal approximation, find the 95% confidence interval for BhsGPA- Can you reject the hypothesis Ho: ßhsGPA .4 against the two-sided alternative at the 5% level? Can you reject the hypothesis Ho: PhsGPA = 1 against the two-sided alternative at the 5% level? - (iii)
please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly
Suppose it is known that in a certain large human population cranial length is approximately normally distributed with a mean of 185.6 mm and a standard deviation of 12.7 mm. A random sample of size 10 from this population will have a mean greater than 190 with a=0.05 ? let Z-tabulate = 1.96 and T-tabulate= 2.30
Students in the population of all students taking E270 were asked to state how much they spent on textbooks in the current semester. Jse the following textbook expense data (in dollars) to answer the following 5 questions. 475 550 540 350 330 510 335 530 370 455 525 545 515 435 335 485 540 645 435 405 340 470 455 345 650 375 520 275 465 330 555 460 455 380 520 620 580 335 565 420 510 465 540 545 350 410 440 530 505 455 655 520 360 405 325 525 545 350 450 435 265 385 540 465 460 560 495 530 385 685 470 375 545 555 520 490 440 495 570 370 340 435 360 590 550 430 425 390 490 430 665 610 655 410 560 390 365 595 550 385 440 395 395 505 545 430 575 530 415 265 420 470 350 525 325 620 325 525 505 335 490 560 240 425 460 435 280 510 485 510 665 335 430 375 555 445 460 490 360 420 470 425 410 680 295 415 230 475 430 395 370 380 375 490 410 330 610 430 305 590 605 315 485 400 480 375 500 445 310 455 355 575 310 370 265 415 345 575 395 385 650 540 435 380 380 495 460 370 400 550 575 385 555 535…
There is a normal distribution with mean 10 and standard deviation of 8. What is the z-score of an observation equaling 15?
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The weights of newborn baby boys born at a local hospital are believed to have a normal distribution with a mean weight of 3939 grams and a standard deviation of 555 grams. If a newborn baby boy born at the local hospital is randomly selected, find the probability that the weight will be less than 4771 grams. Round your answer to four decimal places.

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